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Armenia, India hold joint economic forum

On April 26, on the margins of the working visit of the Foreign Minister of Armenia Ararat Mirzoyan, the Armenian-Indian business forum was held. At the opening ceremony of the event, the Foreign Minister delivered remarks, in which, he particularly noted:

“Honorable guests,
Ladies and Gentlemen,

I am delighted to welcome you all to the Armenian-Indian business forum and I thank the Confederation of Indian Industry for hosting us today.

It is the first time that such numerous and solid Armenian business and investment delegations travel to India to meet and greet their counterparts, establish mutually beneficial cooperation, collaborate to overcome the challenges of today’s world and create value for our societies. Indeed, today we open a new page in the history of Armenian-Indian economic cooperation and let me say, revive excellent traditions of trade, development, and shared prosperity between our nations.

Throughout the years, India has become an important economic partner of ours. At the same time, there is a huge untapped potential, for the utilization of which we must work together.

India – the world’s sixth-largest country by nominal GDP and the fastest-growing economy among major powers, can become a land of unlimited opportunities for Armenian businessmen, technologists, and startupers. In its turn, Armenia, being situated at the crossroads between Europe and Asia, has a lot to offer to India. Armenia’s membership in the Eurasian Economic Union with a population of around 200 mln and 1.8 trillion US dollars GDP, Comprehensive and Enhanced Partnership Agreement with the European Union, as well as the GSP regime with the US, Japan, Canada, Norway and Switzerland, are tangible advantages in the investment attractiveness of Armenia and for effective cooperation with foreign partners.

I would also like to note that our Government is continuously undertaking the necessary steps to ensure a positive business environment in Armenia so that businessmen, entrepreneurs, and investors can have favorable conditions to work and create. In this regard, I would like to mention the ambitious reforms aimed at the promotion of rule of law, the fight against corruption, and the establishment of a free, truly competitive economy and market relations.

Dear friends,

Armenia and India can establish mutually beneficial cooperation in nearly every sphere of the economy, but especially high-tech, IT, education, tourism, aviation, logistics, and pharmaceuticals are among the most promising and forward-looking areas for partnership. Today all the best and the brightest people from these spheres are gathered here, hence I am sure that the success of today’s event is guaranteed.

In conclusion, dear participants, I wish you productive and interesting work. And I think this is the very correct time for politicians to step back and give the floor to businesses.

Thank you.”

Representatives of the Confederation of Indian Industry, the director of the “Enterprise Armenia” Foundation, the director of the “Tumo” Creative Technology Center and others delivered presentations and remarks during the business forum.

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